agency salaries & rewards

When it comes to choosing a job, how much you earn is an important factor. This list should come in useful in helping you benchmark what the going rate is for a range of agency roles.

Flexible employee benefits - find out how substantial the savings can be both for you, the employer, and your employees...

Everyone wants to earn more money to reduce the worry of paying bills and enjoy a higher standard of living. But if you increase an employee’s pay by £1 they will take home considerably less.

Spend that same £1 on providing a retail discounts programme and you could be increasing their spending power by over £1,000 a year. A Retail Discount programme gives employees access to literally thousands of discounts at well known high street stores including Vision Express, Burton, Boots, Body Shop, and Marks & Spencer. If shopping’s not for them, there are also plenty of deals to be had in the leisure sector with brands such as Vue Cinemas, Megabowl, Fitness First, and Domino Pizza, not to mention special holiday and travel deals with Europcar, Hotel Stay UK and many others.

In addition to retail discounts, you could also consider letting your employees spend some of their salary on salary sacrifice benefits and you will be doing the company accounts a favour as well.

Salary sacrifice refers to an employee agreeing to give up the right to receive a portion of their salary. This is used to provide a benefit, which is typically free of tax and National Insurance (NI) for employees. Employers can also save up to 12.8% on NI.

Such arrangements on benefits are commonly seen in voluntary benefit packages today, and some popular schemes include childcare vouchers, Cycle2Work (bike loans), mobile phones and car parking.

However the list of salary sacrifice benefits can extend to health screening, work-related training, travel to work, and meals or food vouchers.

If structured correctly, contributions to a defined contribution pension scheme can also be offered through salary sacrifice arrangements within a voluntary benefits scheme in order to gain tax and NI advantages.

The list of benefits that can be included in a salary sacrifice programme is extensive, so the savings for both employees and employers can be substantial. So substantial, in fact, that some employers are able to fund other benefits for their employees directly from the savings they achieve by providing salary sacrifice benefits.

Find out more about this and numerous other benefit schemes including financial services (pensions, and risk) benefits; health care and lifestyle benefits by contacting agencybods’™ partner Abeceder. Email michael@agencybods.co.uk for further information.